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Vol. 14 No. 34 Des Moines, Iowa December 9,1985 Congress Close on FCS, Farm Bills ONGRESS m oved with unusu al speed last week on the Farm Credit System rescue bill, to the as tonishment o f many and the chagrin o f others who warned that hasty treatment could lead to a bad bill. Nevertheless, the Senate adopted a Farm Credit System bill that sets up the Farm Credit Adm inistration as an oversight agency with the res ponsibility for regulating the nation wide farm lending agency. It further adopted the Adm ini stration’s approach that calls upon the FCS to make the resources o f all its members com pletely m obile so the FCA can order each FCS unit to shift available assets to ailing members, such as the Omaha Land Bank that is in deep trouble with non-performing loans. The healthier FCS units in other parts o f the na tion don’t like that feature and prefer a direct Congressional bailout that gives up to $6 billion to the sys tem and lets it shift those funds where needed. The Treasury opposes a cash bailout. ^ FCA also would set up a corpora tion to acquire, own, manage and possibly resell land acquired under foreclosures on farmers by FCS units. Language giving the farmer first right to lease or buy back the property is included. The govern ment wants the FCS to put up the funds itself. The FCS is looking for government funds to assist this C The House bill then was expected to go to the House floor early this week m ove and the Land Banks in trou (Dec. 9 or 10). Farm Bill ble. The Farm Bill that has been A ll amendments that involved any concern for commercial banks passed by the House and Senate was were defeated. These included described by some in the capital as amendments offered by Senators “ a hit and miss approach” that Boschwitz (Minn.) and Zorinsky basically was designed ju st to get (Nebr.) that would have allowed the bill passed so the conference banks to write down farm debt up to com m ittee could iron it out into an 30% and take the loss over a 10-year acceptable bill. One o f the special problem s that com m ittee will have to deal with is the language it con tains regarding a com prom ise trying to be worked out on the existing UCC exem ption for farm credit. Lenders have always had their security filings recognized as prior liens. M ajor farm equipment com panies and ag groups are trying to get that eliminated so they w on’t have to be bothered checking to see whether a farm seller o f grain or livestock has a security filin g against the com m odities sold. Banks warn this could lead to num erous problem s, in clu d in g lim itation o f ag credit. period. Senators Dole and Garn told One key announcement being their fellow Senators if the bill in awaited by interested organizations cluded anything concerning com is the one that will list the members mercial banks it would muddy the o f the conference committee. Once it waters and would cause it to be is relea sed , th ose com m ittee killed or held. members will be lobbied heavily by The House subcom m ittee on agri the banking interests and their culture marked up its bill on the opponents. FCS program December 3 and it was The A B A Government Relations to go through the full A g Committee Council m eeting will be held soon to by the close o f business December 4. have in-depth reports and debate on RISMILLER, WEAVER AND YAKE Getting it done for you* iS David Rismiller Warren Weaver Ernie Yake Chairman President Senior Vice Preside President _ ^ "m Commerce Bank rf Kansas city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC Tolpnhnno aï o^a-onnn Telephone( M(816) 234-2000 w NA Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS Member FDIC Yearn work: one of the reasons we’re first in Iowa. Mark Conway such matters as the ag bills, tax reform and the disclosure proposal o f the Comptroller o f the Currency that, as one W ashingtonian said, *'‘ makes the FDIC disclosure look like a Sunday school picnic.” Some official positions on these and other im portant issues are expected to be adopted by the A B A . □ by integrating existing bank ser vices and functions which cater di rectly to the individual customer. Mr. M cAndrews previously served as vice president o f marketing. to M t. A yr, effective O ctober 15, after receiving approval in Septem ber from the Iowa banking board. President A .B . W issink said First State has purchased and now occu pies the building at 100 E. South Street form erly occupied by Tingley State Savings Bank, which failed in 1984. The bank building in Diagonal is being retained as an office. Mr. W issink said the bank’s computer department was m oved to the new site in M t. A yr on November 1. Marilyn Werner recently was named a vice president o f the bank, suc ceeding Shirley Ann Smith, who re signed in August to m ove to Ari zona. DES M OINES: Alan Rivers, vice president, com m ercial loans, o f Hawkeye-Capital Bank & Trust, has been named head o f the bank’s loan area. He has been with the bank since 1982. Minnesota News M I N N E A P O L I S : P a t r i c k T. M cGuire has been named senior vice president and chief auditor o f Nor west Corporation. His m ost recent position was as general auditor o f Iowa News DES M OINES: On December 5, D AVEN PORT: A t Davenport Bank Brenton National Bank o f Des The Pillsbury Company, Minneapo and Trust Company, Peter J. M cAn- Moines hosted a presentation by Dr. lis. drews has been prom oted to first Edward J. Campbell, manager and ROCHESTER: Jody L. Bower, com vice president. He will head the chief econom ist, Brown Brothers mercial real estate lending officer, bank’s new consumer banking divi Harriman and Company. It was an has been prom oted to assistant vice sion. The new division was created econom ic forecast for 1986 entitled president at Norwest Bank Roches “ W here’s the G row th?” Brown ter. She has been with the bank since Brothers Harriman is a prestigious 1983. private banking and advisory com pany with world headquarters in SAIN T PAU L: James L. Boettner New York City. has joined Bremer Financial Ser vices, Inc. as vice president/director GREEN FIELD : Martin Dietrich o f human resources. He served in has been elected president and chief various capacities at Norwest Cor executive officer o f First Interstate poration from 1970 to 1985, m ost re Bank o f Greenfield. The position cently as human resources manager was previously held by Larry A. for a group five Minneapolis area Bergemann, who resigned to pursue banks. other interests. Mr. Dietrich pre viously served as president and ST. CLOUD: Jerome D. SchwarzCEO o f First Bank, Paynesville, bauer has joined the staff o f the Minn, from 1969 until taking early First Am erican National Bank o f St. Cloud as manager o f the bank’s Rice retirement in June o f this year. Branch. Prior to joining the bank, he MT. A Y R : The charter for First was with Production Credit Associa State Bank o f Diagonal was moved tion. ASK DENNIS EARHART to make MNB work for you. •Personal •Prompt •Professional Toll free 1- 800- 332-5991 Merchants A National Bank IS I Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK H. PETER DEROSIER Vice President Count On Our Correspondent Bankers MARK CHRISTEN Vice President Valley National Bank ill DES MOINES, IOWA 50304 Member FDIC A BANKS OF IOWA BANK Call toll free (800) 622-7262 The performance of your bank’s bond portfolio is based on sound thinking and quality investments. Investments that will consistently work at full power to contribute to the earnings of your bank. Bond portfolio recommendations have been our specialty since the 1920s, and our track record is enviable. Although investment vehicles and markets have changed, we’ve maintained our high standards. The result is success for our customers and a reputation that precedes us. For confidential consultation about the benefits of investment banking at United Missouri, call (816) 556-7200 today. U N IT O ) M ISSO U R I B A N K of Kansas C ity rua. Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.O. Box 226 Kansas City, Missouri 64141 Supplement to Northwestern Banker Newsletter 12-9-85 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 Call on the “Experienced Professionals” Ready to m eet your m rm Q nnnrlant correspondent neeos. n o o W Nebraska News 0 9 • • O M AH A: Four officers have been prom oted by Norwest Bank Nebraska, N .A. Joseph T. Sullivan, Jr. was prom oted to senior vice president/manager corporate banking di vision. He was previously manager o f the Regency facility o f the U.S. National Bank. Richard E. Schenck becom es Region V compliance offi cer. He was m ost recently assistant vice president/business banking. Richard L. Harms was prom oted to vice president, special loan adminis tration. He joined the Norwest Bank Omaha as second vice president in the agricultural loan department in April, 1985. Steven C. Martens was prom oted to assistant vice president in the special loan administration area. He has been with the bank as a special loan administration officer since July, 1985. Illinois News • • BOLINGBROOK: A t Southwest Suburban Bank in Bolingbrook, Bruce J. W olfersberger has been elected executive vice president. He previously served as vice president and cashier, and will continue in the latter position. c HIFirst N ational Lincoln Member 13th & M streets, Lincoln, N E 68501 the FDIC asset administration de partment. CHICAGO: David O. N ordby has joined Continental Illinois Corpora tion and Continental Bank as execu tive vice president. In his new posi tion, he will head the FDIC asset ad m inistration department. GALESBU RG: John M. Crock has been elected executive vice presi dent and chief executive officer at the Community Bank o f Galesburg. He has 11 years experience in bank ing and industry as a lender, control ler and insurance broker. South Dakota News BROOKINGS: James W interboer, assistant vice president, ag banking, has joined the Brookings branch o f Norwest Bank South Dakota. He previously held that position at the M itchell office. HURON: Clarice McManus has been elected cashier o f Farmers & Merchants Bank. She has been in banking 30 years and is a member o f senior management at the bank. ,c. State Bank and Trust Company o f Dillon. He has been with the bank since 1979 and serves on the bank’s board o f directors. J.P. Nicholas has been named vice president to fill the vacancy created by the resignation o f Mike M orse, who will pursue banking interests in Phoenix, Ariz. H AVRE: Lynn R. Strobel has been elected vice president and manager o f the agricultural loan department o f Citizens Bank o f Montana. M ISSOU LA: Verna W elch has been elected president o f the M issoula Bank o f Montana. She has been with the bank since 1974. Colorado News D EN VER: Barry W illett has joined the staff o f Colorado National Bankshares in the position o f vice presi dent, serving as loan review manager for the Colorado National Bank o f Denver. He has 19 years o f bank ing experience, and was m ost recent ly with Colorado National Bank— Lakewood, where he served as vice president—senior lender. R A PID CITY: Jerry Erickson, for DENVER: A t United Banks o f Den merly assistant vice president/agri- ver, John A . Schultheis and Jon cultural banking at the Newell W ie d m a ie r w ere n a m ed v ic e branch o f Norwest Bank, has ac presidents. Mr. Schultheis has been cepted the position o f assistant vice with the bank since 1981, and is president—real estate lending at manager o f tax exempt trading and Rapid City. underwriting in investment bank SIO U X FALLS: The board o f direc ing. Mr. Wiedmaier, manager o f con tors o f Norwest Bank South Dakota, sumer banking’s M asterCard/Visa N .A. has designated 21 o f its branch area, joined the bank in 1971. managers as presidents. According to C.P. “ Buck” Moore, chairman o f POSITIONS AVAILABLE the bank and president o f Norwest Ag Lender-for small town IL bank. Need min. 3 years lending experience. Be involved in community. Ad Corporation’s Region V I, the elec vance to management. To $30K. tion o f the presidents is part o f the Sr. Lender-Need strong lender with management “ refining o f our organization and is skills for mid-sized Iowa bank. Must have some workout. To $40K. designed to strengthen the role o f Dept. Head of Credit Servlces-Large metro bank. Re these managers as focal points in quire 5 years credit exp., working knowledge of our South Dakota com m unities.” Comm’l Lending, Mortgage and 2 years supervisory. CHICAGO: Illinois Gov. James R. Thompson signed the regional bank ing bill, S. 525, on Nov. 25. The law • becom es effective July 1, 1986 and will allow banks to expand into con tiguous states on a reciprocal basis. He used the occasion o f the First National Bank o f Chicago’s 39th an• nual correspondent bank conference to sign the bill before severed hun dred midwest bankers, Illinois legis lators and representatives o f the Illi nois Bankers Association, which had backed the bill. Gov. Thompson called the bill “ a good compromise, a good first step to prepare for the day when national banking com es...Let Montana News it be a sign to the financial commu COLUM BIA FALLS: Bank o f Col nity o f America that Illinois is umbia Falls has announced the elec strong and getting stronger.” tion o f Ron Bloom quist as president and the prom otion o f Jack Svendsen CHICAGO: David O. N ordby has to senior vice president. joined Continental Illinois Corpora tion and Continental Bank as ex DILLON: Gary Love has been pro vice president. He will head m oted to senior vice president o f the Digitizedecutive for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis fd Acctng. or Finance degree. To $55K. R egency R ECR U ITER S. INC. Diane Evans 1102 Grand Avenue, Kansas City, MO 64106 816/842-3860 POSITIONS AVAILABLE AG LOAN OFFICER for $70 million eastern Iowa bank. In dividual must have minimum of five years ag lending ex perience and be self-motivated. Excellent opportunity, good benefits. Send resume, references and salary requlrements to file WDY, c/o Northwestern Banker. (PA) The National Bank of Waterloo has an opening for a MAN AGEMENT TRAINEE. Must be degreed In Business, Fi nance, or Accounting. One to two years of previous bank experience would be a plus. Please send resume to: Na tional Bank of Waterloo, 100 E. Park Ave., Waterloo, Iowa 50704. Attn. Diane Good (PA) REGIONAL SECURITIES BROKERAGE FIRM seeks a bank partner. NASD member; general securities business for 7 years. (414) 748-7788.___________________________ (PA) MARKETING OFFICER: The Iowa Student Loan Liquidity Corporation Is seeking individual with strong financial background to manage and administer corporate marketing/lender relations programs. Candidate needs excep tional interpersonal communication skills, should be de greed or have equivalent work experience. Duties include program promotion, lender calls, designing marketing materials, training & public relations activities. Student loan experience a plus. Send resume and salary history in confidence to Executive Director, ISLLC, PO Box 7388, Des Moines, IA 50309-7388. (PA) COMMERCIAL REAL ESTATE LOAN UNDERWRITER— $900 million asset bank seeks results-oriented Commer cial Real Estate Loan Underwriter. Reporting to Manager of Commercial Lending, underwriter will perform reviews, calculations and make recommendations for all invest ment opportunities, supervise construction payouts, and review all appraisal reports. Desire person with 3-5 years underwriting experience, keen understanding and working knowledge of financial value concepts, and communica tive and analytical skills. Competitive salary and full bene fit package. For confidential consideration, submit resume to: Human Resources, United Federal Savings Bank, Locust at 4th, Des Moines, IA 50308. (PA) BANKING PROFESSIONALS COMMERCIAL LOAN OFFICER/V.P.— 70mm + Bank $30-35K. TRUST OFFICER— Business Development, Large Bank $30-35K. DEPARTMENT HEAD—Charge Card, Sales/Marketing $27-33K. POSITIONS AVAILABLE SENIOR CREDIT ADMINISTRATOR for central Minnesota b a n k ........................................................... Salary to $30,000 SENIOR INVESTMENT OFFICER for major midwest bank. Requires experience in bank of $200 million in a s s e ts ___ ............................................................................... Salary open AG LENDER—Accounting background a plus, 36mm Bk $25-30K. EXECUTIVE VICE PRESIDENT for eastern Iowa bank, must have well rounded background in both operations and lending ...................................................... Salary High $40’s COMMERCIAL LENDER— New Business Develop ment 300mm Bank $30K + . SENIOR COMMERCIAL LENDER for $100 million bank in community of 15,000 In upper m id-west........... Salary open SR. LOAN OFFICER—40mm Bank In Ag Commu nity. #3 Spot $40K + . LOAN REVIEW OFFICER for eastern Iowa bank, lending and examiner experience a p lu s ................................ Salaryopen CEO—20mm Bank, privately held, 15+ years exp. $40K + . SENIOR COMMERCIAL LENDER for major bank In univer sity city ................................................................Salary open. CEO—35mm Ag Bank, operations and ag lending exp. $45K + . CEO for $20 million Indiana bank, not a problem b a n k ___ ........................................................................... Salary $45,000 A.V.P.—Ag emphasis, some commercial $30K + . AG LENDER for progressive South Dakota bank, located in major community ........................................... Salary $25,000 A.V.P.—Commercial lending, Business Develop ment 250mm Bank, Metro Area $30K + . E.V.P.—#2, Sr. Loan Officer/Operations, 70mm Holding Co $40K + . E.V.P.—#2, Sr. Loan Officer, Metro Bank $45K + . Personnel Search BANKING DIVISION Omaha, Nebraska 1-800-638-1996-025757 Please call Malcolm Freeland or Cy Kirk in care of: Freeland Financial Service 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 Employer pays fee. W A N T ADS Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter adver tisers cannot be revealed. NORTHWESTERN BANKER 1535 Linden Street, Suite 201 Des Moines, Iowa 50309 Phone 515/244-8163 POSITIONS AVAILABLE CEO • S.E. Nebraska and S.W. Iowa banks of over $20M and $40M. Need 10 years or more experi ence. $40-65K. AG LENDERS • W. Central Iowa. Need 2-3 years experience. Need 2 people. $25-30K. COMMERCIAL LENDER • Need 2 + years in com mercial lending. Omaha. To $30K. CONTROLLER ■ CPA - 2 + years exp. Omaha. To $25 K. All fees are paid by our client employers. Richard L. Beam, CPC QUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402)330-3260 Member National Personnel Associates We're Nationwide C H O Q L E R Ir 'ASSOCIATES ''S u ccessful Banking is Q uality P erson nel" POSITIONS AVAILABLE HEAD OF LENDING $10-$15mm bank, Ag credits, excellent country town ................ $30,000-335,000 VICE PRESIDENT, COMMERCIAL $75mm+ bank, some ag a plus, loan review a plus, excellent country town ................................. $40,000-343,000 PRESIDENT $50-$75mm bank, good town, primari ly ag, county s e a t........................... $60,000-375,000 COMMERCIAL LENDER $100mm+ bank, clean bank, excellent town, in charge of a portfolio of $ 6 310m m ............................................. $27,000-330,000 BANKERS AVAILABLE COMMERCIAL LENDER Calling Officer, Premiere suburban bank of $125mm ......................... $35,000 EVP • Hardworking leader with excellent ag bkgd. Headed ag area in $100mm + bank supv 3 while continuing to lead and handle w/o duties. Hands-on knowledge of w/o and cash flows for last 10 + yrs. $38K. EXECUTIVE VICE PRESIDENT $75mm+ bank, 30,000 population, high rated bank, must be strong in commercial lending___ 355,000-365,000 CEO - Currently running clean $25m + operation in ag area. 16 yrs of banking as both #1 in rural ag bank and com’l lender In large bank environment. Has excellent skills in mgmt and w/o plus knows how to get quality accts. $50K. AG LOAN OFFICER • Aggressive/success oriented indiv w /4+ yrs in rural bank and ag degree. Understands CPs, w/o, ratios, and loan analysis. Worked with SBA loans and collections. Needs oppty and a place to grow. $30K. PARTIAL LIST OF AVAILABLE BANKERS FOR FURTHER INFORMATION CONTACT: KURT ROSENCRANTS AT (515) 244-4414 WORLD’S LARGEST BANKING, FINANCIAL, & EDP SPECIALIST J H > M> M> ® R O BER T MffBLF 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID MARKETING DIRECTOR $100+ bank, top outstate location ................................. $25,000-335,000 HEAD OF LENDING $60mm bank, commercial & ag, top location and t o w n .................. $50,000+ + #3 LENDER $40mm bank, Ag and Real Estate, county s e a t..................................... $25,000-330,000 HEAD OF LENDING $50-$75mm bank, mostly Ag, work-out background ................................. $50,000 CHIEF COMMERCIAL LENDER $100mm bank, Premiere Suburban location, $30mm commercial portfolio .........................................$50,000-$60,000 CONTROLLER $50-$75mm bank, outstate, county «oat ................................................. $30,000-335,000 Many years In bank management enables me to find the right banking environment for you, com pletely confidentially. Send your resume or phone: DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2266 PO SITION S A V A IL A B L E AGRI-LOAN • senior lender for $40MM Ag Bank. Work out loan experience desired. $38K COMMERCIAL LOAN • middle management position with $100MM + suburban bank. Need two-four yrs. experience. $28K SECOND OFFICER - Ag-orlented bank with large cattle loan portfolio. Previous administration experience a plus. $40K COMMERCIAL/INSTAL. LOAN • community bank with large retail base. Time will be split evenly between com mercial and instal. credits. $25K CREDIT OFFICER - develop and oversee credit dept, for growing suburban bank. Good advancement possibilities. $20K ALL INQUIRIES CONFIDENTIAL PLEASE FORWARD RESUME. TO M H A G A N & A S SO C IA T E S 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970’’ Vol. 14 No. 34 Northwestern Banker Newsletter (USPS 873-300) Is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid at Dee Moines, Iowa. Address all mall subscriptions, changes of address (Form 3579), manuscripts, mall Items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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